In Chicago, 31.9% of Redfin offers faced bidding wars in January compared to 26.3% in December 2020.

More than 60% of certifications across the top states, including Illinois, were offices, health care, higher education and K-12 projects, the report noted.

The website, which notes that housing costs take up about one third of average spending for households, configured data by assessing the median home value and mortgage payment to show the minimum level of income necessary.

The firm is Detroit’s top residential broker for downtown and the city’s top brokerage for adaptive-reuse and new-construction developments.

“In the final months of 2020, single-family rents posted the highest increases in over four years,” said Molly Boesel, principal economist at CoreLogic. “However, single-family rent price reaction to the pandemic and resulting recession differed greatly across metros.”

The report added that vacation homes and affordable homes in small towns near major urban centers were in strong demand as a result of the pandemic.

Welcome to our Top Producers/Real Data issue, which highlights those who made waves in the 2020 Chicagoland market.

Fence-sitters thinking of buying a home beware, says a new study from Zillow, which notes that waiting could mean a much higher mortgage payment down the road.

“Despite these challenges (of 2020), we provided amazing speakers, content and entertainment to our membership throughout the year. I look forward to continuing this momentum and an amazing 2021.” — Robert Padron, NAHREP 2021 President 

Compass has established a presence in Glen Ellyn.

“Homeowners will see the value of their homes rise, but first-time homebuyers will face tougher competition from out-of-towners with big budgets.” — Daryl Fairweather, Redfin chief economist

“Historically low-interest rates, a shortage of new housing inventory and limited new construction have contributed to rising home prices nationwide.” — Don Ganguly, senior vice president of Mynd Investor Services

The decline of home mortgage interest rates is continuing to fuel homebuying demand in December, pushing the median home-sale price up 13% nationwide to $334,300, according to a new report from online broker Redfin.

Joe Castillo and Erika Villegas have acquired RE/MAX Town & Country in Aurora. 

The Swanepoel Power 200 ranks leaders from all sectors of the residential real estate industry — here are Illinois’ top players.

Cindy Lee and Sally Lee-Zhao have joined the Northbrook office of Berkshire Hathaway HomeServices Chicago.